0310 GMT - China's PMI recovery is encouraging despite domestic demand remaining fragile, says BofA Securities in a research note. "Faster manufacturing production and the rebound in services and construction point to a sequential improvement in economic activity," the bank says. That said, the slight easing in new orders and continued contraction in employment suggest that the recovery remains uneven. Looking ahead, the rollout of the policy financing tool and the recently pledged supplemental lending rate cut are likely to support investment-related orders and production in the coming months, it adds.
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